Fifth Chemical Tanker Delivered to Ocean Yield

  • Business & Finance

The Oslo-listed Ocean Yield ASA has taken delivery of a 49,000 dwt IMO II chemical tanker Navig8 Turquoise from Korean shipbuilder STX.

This is the fifth vessel delivered in a series of total eight chemical tankers that will be chartered to Navig8 Chemical Tankers under a 15-year “hell and high water” bareboat charter.

Navig8 Turquoise will be entered into and operated in Navig8 Group’s Chronos8 commercial pool.

“Year to date we have taken delivery of four vessels and will during the next twelve months take delivery of another nine vessels bringing the fleet to a total of 27 vessels,” Ocean Yield ASA’s Chief Executive Officer, Lars Solbakken, said.

The delivery is part of a USD 306.8 million deal signed in April 2015 for eight newbuilding chemical tankers, four of which, built by Hyundai Mipo Dockyard, Korea, joined the company’s fleet in Q2 and Q3 2015.

The remaining four 49,000 dwt carriers, all built by STX, are scheduled for delivery in Q1-Q3 2016.

For 2015 Ocean Yield saw its net profit after tax reach USD 105 million, compared to USD 100.8 million for 2014.

Adjusted for non-recurring items, the net profit for the year 2015 was USD 108.5 million compared with USD 97.5 million in 2014.

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